The unimaginable scale of wealth destruction of the downfall of FTX.

December 8, 2022

The scale of the loss on retail investors, hobbyist and small time crypto speculators and traders is so devastatingly huge that one can’t help but wonder why isn’t more being done by DoJ to bring some measure of legal closure to those who have loss their life savings….. What could they be waiting for?

Meanwhile the FTX fallout continues to spread and there’s no resolution in sight.

For the very first time since the FTX meltdown. I am beginning to suspect that those in power don’t realise the magnitude of the wealth destruction. Or even how it may overreach and even threaten the financial well being of non crypto institutions……. I say, they don’t know. Because. From where I am squatting no one it seems has actually scaled either the magnitude, range and demographics of the FTX fallout. If they have all these data. They would be very very distressed.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: